Is Gordon Ramsay Really In Serious Debt?

According to several reports, celebrity chef Gordon Ramsay is in serious debt. But is he really in financial trouble?
Posted at 2:29 PM, Aug 08, 2014

If you believe the rumors, celebrity chef Gordon Ramsay might be in some serious debt.

According to several reports out this week, Ramsay is more than $50 million in debt.

Radar Online says it obtained court documents that reveal Ramsay's business empire is bleeding money. 

But Ramsay's rep is denying the claims — so is the chef really in hot water? Does his spending need a reduction? OK, we'll stop.

According to the docs, the umbrella company that handles Ramsay's business endeavors, Kavalake Holdings, lost more than $10 million in 2013. That same report claims Kavalake has about $7 million in cash holdings, but the company has just over $50 million in debt.

But the outlet does point out those numbers are only related to the "Kitchen Nightmares" star's British business operations.

And in a statement to Reality TV World, Ramsay's rep was quick to deny Radar Online's claims, saying the report is "misleading."


"This is an inaccurate interpretation of the public filings that were reported widely in the media back in May, and any claim that the company is anywhere near bankruptcy is ludicrous."

And we should point out, similar reports about Ramsay's financial woes have surfaced in the past, but he's moved forward in his career despite them.

Like we mentioned earlier, Radar Online's report only pertains to Ramsay's business ventures in the U.K. He has a total of 12 restaurants there, but he also has many more in the U.S., France, Italy and other locations.

And consider his plethora of cooking reality shows — "Kitchen Nightmares" is coming to an end, but Ramsay still has the ever-entertaining "Hell's Kitchen," "MasterChef" and "Hotel Hell" to fall back on.

​In fact, Ramsay's TV shows helped make him the highest-paid chef on Forbes' list in 2012. His earnings at the time? $38 million.

Ultimately, if Ramsay is in the red, that won't look too good for a man who's famous for teaching people how to run restaurants and businesses. But if Radar Online is twisting the facts, well — we wouldn't want to be anywhere near that office.

"You, you, you, you, you. Get the f*** out. Get out!" (Video via Fox / "Hell's Kitchen")